(b)
Post the entries to Work in Process Inventory, and prove the agreement of the control account with the job cost sheets. (Post entries in the order of journal entries presented in the previous part. Round answers to 0 decimal places, e.g. 5,275.)
Exercise 20-2 (Part Level Submission) Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,010 and two jobs in process: J May, a summary of source documents reveals the following. Job Number Materials Requisition Slips Labor Time Tickets 429 430 $2,760 3,860 4,950 $2,300 3,410 7,810 431 General use $11,570 910 $12,480 $13,520 1,700 $15,220 Stine Company applies manufacturing overhead to jobs at an overhead rate of 61% of direct labor cost. Job No. 429 is completed during the month. (a) Your answer is correct. Prepare summary journal entries to record (1) the requisition slips, (2) the time tickets, (3) the assignment of manufacturing overhead to jobs, and (4 titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.) No. Date Account Titles and Explanation Debit Credit (1) May 31 Work in Process Inventory 1570 2 Manufacturing Overhead Raw Materials Inventory 12480 (2) 31 Work in Process Inventory 13520 Manufacturing Overhead 1700 Factory Labor 15220 (3) 31 Work in Process Inventory 8247 Manufacturing Overhead 8247 (4) 31 Finished Goods Inventory Screenshot Work in Process Inventory 9053 (b) Post the entries to Work in Process Inventory, and prove the agreement of the control account with the job cost sheets. (Post entries in th part. Round answers to O decimal places, e.g. 5,275.) Work in Process Inventory Job Beginning Work No. in Process Job Cost Sheets Direct Direct Material Labor Manufacturing Overhead Total 431 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Screenshot Atte Exercise 20-2 (Part Level Submission) Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,010 and two jobs in process: J May, a summary of source documents reveals the following. Job Number Materials Requisition Slips Labor Time Tickets 429 430 $2,760 3,860 4,950 $2,300 3,410 7,810 431 General use $11,570 910 $12,480 $13,520 1,700 $15,220 Stine Company applies manufacturing overhead to jobs at an overhead rate of 61% of direct labor cost. Job No. 429 is completed during the month. (a) Your answer is correct. Prepare summary journal entries to record (1) the requisition slips, (2) the time tickets, (3) the assignment of manufacturing overhead to jobs, and (4 titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.) No. Date Account Titles and Explanation Debit Credit (1) May 31 Work in Process Inventory 1570 2 Manufacturing Overhead Raw Materials Inventory 12480 (2) 31 Work in Process Inventory 13520 Manufacturing Overhead 1700 Factory Labor 15220 (3) 31 Work in Process Inventory 8247 Manufacturing Overhead 8247 (4) 31 Finished Goods Inventory Screenshot Work in Process Inventory 9053 (b) Post the entries to Work in Process Inventory, and prove the agreement of the control account with the job cost sheets. (Post entries in th part. Round answers to O decimal places, e.g. 5,275.) Work in Process Inventory Job Beginning Work No. in Process Job Cost Sheets Direct Direct Material Labor Manufacturing Overhead Total 431 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Screenshot Atte
